Sept. 30, 2019 - Canada’s Competition Bureau is actively seeking and reviewing smaller acquisitions that may not exceed pre-merger notification thresholds under the Competition Act but that may nonetheless raise substantive competition issues. The Bureau’s demonstrated interest in evaluating smaller mergers...
Transcontinental: Competition Bureau uses Consent Agreement to Test Failing Firm Analysis
On May 28, 2014 the Competition Bureau announced that it had reached a consent agreement with Transcontinental relating to its proposed acquisition of 74 community newspapers from Quebecor Media. The objective of the consent agreement was to preserve competition in the sale of advertising in community newspapers in the Province of Québec by requiring that a number of the parties’ newspapers be put up for sale.
This article by Charles Tingley discusses what this settlement indicates about how the Bureau might in future be prepared to approach failing firm analysis when reviewing whether a proposed merger is likely to lessen competition substantially. That approach could create uncertainty for purchasers and vendors about when and how the Bureau will test claims about the financial distress of takeover targets and the absence of competitively preferable purchasers to acquire them.
Sept. 24, 2019 - The Supreme Court of Canada has released its long-awaited decision in two companion appeals that have significant implications for class actions alleging conduct that contravenes the criminal provisions found in Part VI of the Competition Act (Act). In its decision in Pioneer Corporation...